TASHKENT, Uzbekistan, October 12. The National Bank of Uzbekistan JSC and the Czech EGAP Export Credit Agency signed a cooperation agreement to attract a credit line from a foreign party for 30 million euros, Trend reports.
The news followed a meeting between the representatives of both chambers during the Uzbek-Czech business forum, aimed at comprehensively strengthening business ties between entrepreneurs from the two countries.
Following the results of the business forum, the parties reached important bilateral agreements on the development of partnership in the field of innovative technologies, agriculture, food, pharmaceuticals, and transport, as well as electrical engineering, textiles, metallurgy, banking and financial areas. The participants also signed a solid package of agreements.
The main advantage of this credit agreement between the banks is the possibility of financing small and medium-sized business projects on attractive terms under the coverage of the Czech Guarantee and Insurance Corporation (EGAP).
The funds of this credit line will be used to finance the agreements reached following the business forum, including support for the aviation sector, development of transport infrastructure and modernization of technological equipment for beer production and expansion of the brewing industry in Uzbekistan, with the introduction of advanced technologies of Czech beer producers.
This will allow small and medium-sized businesses to launch new projects and expand their current business activities, as a result of which new jobs will be created in all regions of the country.
Moreover, within the framework of the forum, Chamber and Industry of Commerce of Uzbekistan and Chamber of Commerce of the Czech Republic have signed a Memorandum of Understanding aimed at developing and strengthening mutually beneficial cooperation between the two countries.